Christopher J. Reed Sells 27,816 Shares of Reed’s, Inc. (NYSEAMERICAN:REED) Stock

Reed’s, Inc. (NYSEAMERICAN:REED) insider Christopher J. Reed sold 27,816 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $3.39, for a total value of $94,296.24. Following the sale, the insider now owns 1,529,176 shares in the company, valued at approximately $5,183,906.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of REED stock opened at $3.36 on Friday. Reed’s, Inc. has a 52-week low of $1.90 and a 52-week high of $4.05.

Reed’s (NYSEAMERICAN:REED) last issued its quarterly earnings data on Tuesday, May 14th. The consumer goods maker reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.03). The firm had revenue of $8.45 million during the quarter, compared to analyst estimates of $8.14 million.

REED has been the subject of several analyst reports. Zacks Investment Research raised Zurich Insurance Group from a “sell” rating to a “hold” rating in a report on Saturday, May 18th. R. F. Lafferty initiated coverage on Reeds in a report on Friday, May 10th. They issued a “buy” rating and a $5.00 price objective for the company. Finally, Lake Street Capital initiated coverage on Reed’s in a report on Friday, April 26th. They issued a “buy” rating and a $6.00 price objective for the company. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $5.06.

Several hedge funds have recently modified their holdings of REED. Virtu Financial LLC acquired a new position in Reed’s in the 1st quarter worth about $61,000. Royce & Associates LP acquired a new position in Reed’s in the 1st quarter worth about $479,000. Handelsbanken Fonder AB acquired a new position in Reed’s in the 1st quarter worth about $87,000. First Manhattan Co. acquired a new position in Reed’s in the 1st quarter worth about $98,000. Finally, MYDA Advisors LLC acquired a new position in Reed’s in the 1st quarter worth about $72,000.

About Reed’s

Reed's, Inc develops, manufactures, markets, and sells natural hand-crafted beverages and candies in the United States, Canada, Asia, Europe, Australia, and South America. Its products include Reed's ginger beers; Virgil's root beer and cream sodas; Flying Cauldron Butterscotch Beer; and Sonoma Sparkler branded sparkling juices.

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Insider Buying and Selling by Quarter for Reed`s (NYSEAMERICAN:REED)

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